Application of Economic-Mathematical Models for Assessment of Unemployment of Young People

The unemployment is a common problem of modern labor markets and developed economies. Neither country is immune to the problem of unemployment, but they all have different unemployment rates. The most affected category that most felt the problem of unemployment is the young population. Reducing the rate of unemployed young people is a long and difficult process. The Republic of Macedonia is a country where the unemployment rate of young people is high. In this paper is analyzed the labor market in the country and the data are collected from the Nacional Institute of Statistics and Employment Agency about the number of unemployed youth in the past 10 years. Based on the data it is made estimation and forecasting for the unemployment trend of young people in Republic of Macedonia in the period from 2004 to 2013.Linear and exponential trend are the models which are used for the analysis. These two models are implemented to gain better insight into the trend of young unemployment in the next year